Hell's Fargo, LOL! The strange thing is, the loan officer was recommended to me by a friend. He seems nice and all but sheesh! 6 weeks!

5 Minutes! seriously. You need to call my friends at:

Home Savings of America http://www.HSOAGA.com
770-293-1730

Getting pre-approved only takes 5 minutes. O.K., maybe 10. best of luck to you.

Hi again Rush,
Thanks for the props! Your question has been bugging me all day. You look like a pretty solid buyer. What bank is it that's giving you this song and dance? 6 weeks is unimaginable. I must know! Thanks! Oh, by the way, if you're looking at $150K FHA, you only have to put down 3%.

We haven't submitted an offer, we're just trying to find out exactly what we qualify for so that we can start looking for a home. We're looking for 150,000 (max) FHA with up to 9000 down(preferably less), annual income 85,000, good DTI ratio. My credit scores are in the 700's but spouse's are mid 600's so that's why we thought it was taking so long since we were not approved throught the automated system. Still, 6 weeks seems like a long time considering we may not even be approved! Thanks for the answers everyone, greatly appreciated!

Yes!

The loan officers with whom I work will have an answer for you in a week or less.

Solomon Greene
REALTOR® / Consultant - Keller Williams Realty Atlanta Partners
(678) 775-2677

For a pre-approval, any Loan Officer worth his/her salt should be able to run you through an automated system in the same day you applied. Are you trying to qualify for a specific loan program? My company does business in Georgia and I would be glad to be of assistance.

Pre approval should not take nearly this long. Try another lender

I am a mortgage broker. If I can be of service, please let me know!

MSmith@PrecisionFundingUSA.com

Marty

I am on line now!

Hello Rush,
Your question is a little confusing. If you are applying for a mortgage then you need to move on to a more reliable source for financing. If they are telling you to hold tight, they are acting very unethically. Move on now, don't even wait another week! The pre-approval process for a loan should take a qualified loan office a few hours, not weeks. If the bank you applied at is taking this long just to process your application, imagine what is going to happen when you try to have them fund a loan for your purchase. Their negligence will cost you the house you want. You are going to save yourself a lot of stress by using a well qualified lender. If you have a real estate agent that you trust, start there. They can give you two or three referrals of lenders they have good experience with. If this bank is a discount lender, remember, you get what you pay for. In a market like this, a good lender is imperative.
Now, since I'm confused a little by your question, if you have submitted an offer on a short sale or foreclosure and are waiting to hear back from the bank, that's a whole new topic. Short sales can take weeks or even months. Foreclosures should be much faster, several days to a week is normal for a response. Good luck to you, I hope this helps!

Chris Mabry, SRS, e-PRO
Realty Executives Southern Arizona

The Process can take up to 6 months before you hear any response.
it does take time to get the best deals.
Godd Luck
A.J.Zaki